| File Type: | Pension |
|---|---|
| File Number: | P0265-2006 |
| File Name: | Honeywell ASCa Inc. |
| Act: | Pension Benefits Act |
| Plan Name: | AlliedSignal Canada Inc. Retirement Plan for Salaried Employees (now the Honeywell ASCa Retirement Plan for Salaried Employees), Registration No. 0222695 |
| Applicant: | Honeywell ASCa Inc. Counsel: David Stamp, Osler, Hoskin & Harcourt LLP |
| Respondent: | Superintendent of Financial Services, Counsel: Deborah McPhail |
| Party: |
Jacqueline Briand, Counsel: Ari Kaplan, Koskie Minsky LLP |
| Panel: |
Ralph Scane (Chair), Martin Brown, David Short |
| Hearing Date Information: |
06/23/2008 (Hearing); 04/03/2008 (Pre-hearing Conference by teleconference); 02/07/2008 (Pre-hearing Conference by teleconference); 01/31/2008 (Pre-hearing Conference by teleconference) adjourned; 08/29/2007(Pre-hearing Conference by teleconference); 03/06/2007 (Pre-hearing Conference by teleconference); 12/19/2006 (Pre-hearing Conference by teleconference); 09/22/2006 (Pre-Hearing Conference continued Adjourned; 06/21/2006 (Pre-Hearing Conference continued) Adjourned; 05/17/2006 (Pre-Hearing Conference continued)
Adjourned; 04/05/2006 (Pre-Hearing Conference) |
| Next Appearance Date: |
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File Summary: (Go to latest update) |
On January 20, 2006, Honeywell ASCa Inc. requested a hearing regarding the Notice of Proposal of the Deputy Superintendent, Pensions, dated December 22, 2005, proposing to refuse to approve an actuarial report on the partial wind up, as at December 31, 1992, of the pension plan now called the Honeywell ASCa Retirement Plan for Salaried Employees (the "Plan") in relation to the members and former members of the Plan who ceased to be employed as a result of the closure of the Bendix Heavy Vehicle Systems location in London, Ontario on or about December 31, 1992. The Deputy Superintendent also proposed, in the same Notice of Proposal, to order that an amended partial wind up report be prepared and filed providing for an immediate distribution to the members and former members affected by the partial wind up of all the surplus related to the partial wind up. The basis for the proposal to refuse to approve the partial wind up report was its failure to set out the methods of allocating and distributing surplus assets related to the wound up portion of the Plan. The basis for the proposal to order the preparation and filing of an amended wind up report was that the report ought to provide for the distribution of the surplus assets to the members and former members affected by the partial wind up. While the Plan and the trust agreement relating to the pension fund for the Plan had been amended to provide for the reversion of surplus to the employer, the Deputy Superintendent concluded that these amendments were inconsistent with the terms of the original Plan and trust agreement, in which case the members and former members were entitled to the surplus in accordance with the terms of the original Plan and trust agreement. On January 30, 2006, an application for party status was filed by Jaqueline Briand, a former member of the Plan. At a pre-hearing conference on April 5, 2006, full party status was granted to Jaqueline Briand and the matter was adjourned at the request of the parties in order to permit settlement discussions to take place. The pre-hearing conference was scheduled to resume on May 17, 2006 and was further rescheduled to June 21, 2006 and then again to September 22, 2006 at the parties’ request to permit the continuation of settlement discussions. Updated to May 31, 2006
On September 21, 2006, the parties requested the matter be adjourned sine die to permit further settlement discussions. The Tribunal adjourned the matter to December 19, 2006. Updated to October 6, 2006 At the December 19, 2006, pre-hearing conference the parties advised that they are close to reaching a settlement in this matter. The pre-hearing conference is scheduled to continue on March 6, 2007 in the event the matter does not settle. Updated to January 10, 2007 At the pre-hearing conference on March 6, 2007, the parties advised that their settlement discussions continue to be positive in this matter. The pre-hearing conference is scheduled to continue on August 29, 2007. Updated to April 2, 2007 On August 29, 2007 the pre-hearing conference resumed. The parties sought a further adjournment of the proceedings on the basis that they are working towards a settlement. The Tribunal adjourned the matter to January 31, 2008. Updated to September 18, 2007 On January 9, 2008 the pre-hearing conference scheduled for January 31, 2008 was rescheduled to February 7, 2008 at the request of the Tribunal. Updated to January 21, 2008 On February 7, 2008 the pre-hearing conference resumed. The parties sought a further adjournment of the proceedings on the basis that they continue working towards a settlement. The Tribunal adjourned the matter to April 3, 2008. Updated to March 25, 2008 At a continuation of the pre-hearing conference on April 3, 2008 the parties advised that they have entered into Minutes of Settlement, and consented to the consolidation of this proceeding and FST File No. P0266-2006. The parties indicated their intention to seek an Order of the Tribunal incorporating the Minutes of Settlement. The hearing is scheduled for June 23, 2008. Updated to May 9, 2008 On June 23, 2008 the Tribunal issued its Order. Updated to June 26, 2008 |
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